Santos and Woodside Positively Gushing
With global oil and LNG prices surging in the Sep quarter, no surprise the country’s two leading independent producers - Woodside and Santos - reported big jumps in revenue and earnings.
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Santos Limited
Santos is an Australian energy pioneer. We have safely and sustainably discovered, developed and delivered natural gas to the people of Australia and Asia for more than 60 years.
With origins in the Cooper Basin, Santos has one of the largest exploration and production acreages in Australia and extensive infrastructure. Our strategy is centred on five core, long-life natural gas and LNG assets. These assets support our aim to be a leading Australian domestic gas supplier and a major LNG exporter supplying clean energy to Asia.
As an Australian owned and operated business, we work in partnership with local communities, governments and our business partners to make natural gas an affordable and reliable energy solution for all Australians.
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News
Beetaloo – Australia’s Next Big Hydrocarbon Basin
The Beetaloo Basin is shaping up to be Australia’s next big hydrocarbon province, prompting some in the industry to proclaim it as one of the hottest shale gas plays in the world.
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Gods Smiling on Marriages Made in Heaven
The gods are smiling on our two big energy sector marriages - BHP selling its oil and gas operations to Woodside and its own shareholders, and the Santos swallowing of Oil Search.
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Santos-Oil Search Merger Finalised
Santos and Oil Search have finalised their $21 billion merger after announcements to the ASX on Friday.
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Santos Bounces Back, Turns Focus to Oil Search Deal
Like the rest of its sector, Santos rode the rebound in global oil and gas prices in the June half, reporting a net profit after tax of $US354 million including net gains on asset sales.
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Analyst Views
STO – Morgan Stanley rates the stock as Overweight
The Overweight rating and target price of $8.60 are retained.
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STO – UBS rates the stock as Buy
Barossa has achieved a final investment decision which de-risks the project. Santos has an agreement to sell 25% of Darwin LNG and Bayu-Undan on achieving FID at Barossa. UBS retains a Buy rating and raises the target to $8.35 from $8.20.
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STO – UBS rates the stock as Buy
UBS lifts Brent oil price forecast for 2021 to US$65.50/bbl, from US$57/bbl, and 2022 to US$62/bbl from US$60/bbl. Santos remains the preferred exposure across the energy sector with short-term growth catalysts. Buy rating retained. Target is raised to $8.20 from $7.90.
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STO – UBS rates the stock as Buy
2020 underlying earnings were below UBS estimates because of higher corporate costs and a change in inventory. Buy rating retained. Target is raised to $7.90 from $7.70.
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